As in other industries, insurance companies are weighing the benefits of social media for promotion and customer interaction. A new survey from Mintel Comperemedia suggests insurers’ efforts would be best spent targeting young adults, men, and high-income earners, as these groups are the most likely to already use social media for insurance research and communication.
Small business owners have been hit especially hard by the recession. The combined effects of the credit crunch and the drop in business activity has made it difficult for SMBs to compete, especially for top talent. On top of that, many SMBs cannot afford to offer the kinds of employee benefits that their larger counterparts, companies with 500+ employees, do.
Few consumers enjoy the process of filing an insurance claim relating to home damage. But accidents do happen and consumer sentiment about an insurance company is closely linked to how they are treated during the claims process. J.D. Power and Associates recently surveyed consumers who filed a homeowner’s claim to determine satisfaction levels and the likelihood of renewing with the same company. The company’s findings provide insight for insurers who want to acquire new customers and retain the ones they currently have under contract.
Like operators in many other industries, insurance companies are feeling economic pain. And they are looking for better ways to market and deliver their services. In large part, insurance companies across the globe are planning to move more operations online.
Insurance companies appear to be taking a page from food marketers’ handbook. A recent report in Youth Markets Alert describes how insurance companies are expanding their efforts to reach the youngest consumers: kids and teens. One company, American Family Insurance, is sponsoring the “Clifford the Big Red Dog Be Big” campaign while State Farm has underwritten the Nickelodeon’s “Go Diego, Go Live! Tour.”
Local insurance agents often carry lines from several major insurance companies. As they sell to and then service clients with claims, these local agents generally say they are satisfied with the carriers’ response to policy pricing and claims handling. But according to a Deloitte and National Underwriter magazine survey, local insurance agents say there’s one big area where they feel ignored. Only 10% of these businesses say they are consulted often when it comes to marketing and branding.